Section 11

(1) If any default is committed in complying with any direction under section 4 or with the provisions of section 3 or section 5, every person who at the time the default was committed was manager or any other person vested with the authority to manage and conduct the affairs of the institution shall, unless he proves that the default was committed without his knowledge or that he exercised all due diligence to prevent the commission of the default, be punishable, in the case of a default in complying with the provisions of section 3 with fine which may extend to one thousand rupees and in the case of any other default, with imprisonment which may extend to six months or with fine which may extend to one thousand rupees or with both.